Wall Street ends mixed as Nvidia and AMD sink, but the week still ends higher
The S&P 500 fell 0.4% and the Nasdaq 0.9% on Friday as chip stocks slid, while the Dow edged up 0.1%. For the week, all three indexes rose more than 2%, their best week since early August.
A mixed close to a wild week
U.S. stocks ended a turbulent week in mixed fashion on Friday, November 13. The S&P 500 fell 0.40% to 7,561.67, losing 30.73 points, and the Nasdaq Composite dropped 0.91% to 25,136.27, down 229.82 points, while the Dow Jones Industrial Average rose 0.10% to 52,347.55, up 50.46 points. The Russell 2000 slipped 0.31% to 2,790.49.
The week still finished higher. The S&P 500 rose 2.5%, the Nasdaq 2.3% and the Dow 2.1%, the best week for each index since early August, and the first weekly gain in 5 weeks. More than 60% of S&P 500 stocks rose on Friday, the Associated Press reported, and 7 of the index's 11 sectors finished higher, led by consumer staples, while technology lagged.
Chips give back Thursday's rally
Nvidia fell 2.01% to $162.85 on Friday, a second straight day of losses after chief executive Jensen Huang resigned on Thursday. The stock has now fallen for 6 straight weeks, the longest weekly losing streak since 2012, and is down about 13% for the week, its worst week since April 2025. Yahoo Finance reported its market value closed below $4 trillion for the first time since July 2025.
HSBC cut Nvidia to hold from buy on Friday and lowered its target to $170 from $365, saying the shares face pressure until a permanent chief executive is named. AMD fell 8.75% to $534.06, giving back most of Thursday's gain, and Broadcom dropped 4.76% to $347.01. The PHLX Semiconductor Index fell 3.43% on Friday. Nvidia reports quarterly results on Tuesday, its first report under interim chief executive Colette Kress.
- S&P 5007,561.67, down 0.40%
- Nasdaq Composite25,136.27, down 0.91%
- Dow Jones52,347.55, up 0.10%
- Nvidia$162.85, down 2.01%
- AMD$534.06, down 8.75%
- PHLX Semiconductor Indexdown 3.43%
- S&P 500, for the weekup 2.5%, best since early August
Inflation, yields and a ground stop
Stocks opened higher after October producer prices rose 0.3% from September, less than the 0.4% expected, but the annual rate climbed to 6.5%, the highest since November 2022. The 10-year Treasury yield held at 5.15%, and traders priced a Federal Reserve rate hike at the December 9 meeting as a certainty.
Late in the afternoon, the Federal Aviation Administration halted all departing flights nationwide, citing a temporary telecommunications outage at air traffic control centers. The next test for the market comes on Tuesday, when Nvidia reports quarterly results.
